Are you looking for new ways to make extra money from home? Well, Iβve got a way that is perfect for introverts, and that is renting out your stuff!
You might be surprised to learn that it’s even possible to make money doing this, but it is. In fact, it is very likely that you already own a number of things that can be rented out such as storage space or tools.
If this sounds like a home business you would be interested in starting, then keep on reading for more ideas of things you can rent out. Plus, get step-by-step guidance on how to start up your new home business.
Let’s jump right in!
15 Things You Can Rent Out To Make Extra Money
Renting Your Entire Home
Alright, letβs get the most obvious rentable item out of the way first, and that would be to rent out your home.
Of course, your ability to rent out your entire home will be very dependent on your living situation. But if you can make it work in your favor, it can be a very lucrative business venture.
Some homeowners decide to do short-term rentals which is when they rent out their home to numerous people throughout the year for short stays. This is a great option if you still plan to live in the home, but have somewhere you can stay while people rent it on the weekends, while you are away, etc.
Other homeowners will do long-term rentals which are when one person, couple, family, etc., lives in the home for an extended period of time. With this option, you wonβt be able to live in the home. However, if you have somewhere cheap you can live and youβre willing to make some sacrifices, this can be a great way to earn some extra money and pay off your mortgage.
Both of these options have their pros and cons. It’s just a matter of deciding which one would work best for your family and business. To learn more about the pros and cons of each home rental type, go here.
Renting Spare Rooms
You can also rent out your home without needing somewhere else to stay. This would involve renting out a spare bedroom or basement suite for example.
Similar to the above rental option, you can do short-term or long-term rentals which both have their pros and cons.
I will say that since you will only be renting out a section of your home and will likely be sharing the space with your renter, I would recommend choosing whatever option works well for you and your family first and foremost.
As a fellow introvert myself, I know I would much rather have someone living in my home permanently that I can get to know rather than having a bunch of strangers in my house all the time. In fact, this would be more important to me than the money I could make doing short-term rentals.
So, take some time to think about what you would prefer.
Related Read: 13 Legit Side Hustle Online Ideas To Make More Money
Renting Out Extra Storage Space
If you arenβt comfortable renting out your home for people to stay in, why not use the extra space to rent out for storage?
You could go even further than just renting out a spare room for storage. Look for any extra space you have that could be cleared out to make room for storage rental opportunities. Consider using:
- an attic
- space in your garage
- a shed
- under-the-stair storage
- and so on
For introverts, this can be an appealing rental option since you won’t have to deal with people living in your space.
Just note that people who are renting storage space will likely be storing things they don’t want to throw away or store themselves. To protect yourself, make sure you know what is being stored and what you will allow in your space.
Are you looking for a platform where you can advertise your rental storage space? Neighbor is one of the leading platforms to host and find local storage rentals. To learn more about how Neighbor can help you, go here!
RV’s, Trailers, and Campers
Many people love camping but just canβt justify the cost of owning an RV, trailer, etc. Youβve also got people who donβt camp often, so they just need something they can use for a few nights.
This is where you come in!
If you already own a camper or an RV and donβt use it all the time, renting it out is a great way to make extra money when it would have just been unused otherwise.
To make even more money from your rental, you can even offer delivery and set up for an additional fee. This is especially great for people who want to go camping but donβt have the means to haul a trailer to their campsite.
Camping & Hiking Gear
It’s no secret that hiking and camping gear is incredibly expensive. And unfortunately, some people can’t afford it. Others may not be able to justify the cost of owning the stuff needed when they only get to camping or hiking once or twice a year.
But if you already own these things, then you can rent them out to others. This is great because you get to earn money off these unused items while helping someone else have a great weekend at a fraction of the price.
You can rent anything from tents and sleeping bags to fishing rods, backpacks, kayaks, and more.
This is an easy option for introverts since all you need to do is list your items online or in the classifieds, and then wait for people to rent them out.
Tools
Unless you are someone who does woodworking or has a project on the go at all times, it is very likely that many of your tools lay unused most of the time. Why not earn some money from them instead of letting them sit there and collect dust?
Many people are turning to tool rentals instead of buying tools because they either only need the tool for one thing and canβt justify the cost, or they donβt have anywhere to store them long-term. Either way, you can help them out by renting your tools to them instead.
Some common tool rentals include:
- drills
- saws
- sanders
- ladders
- plumbing tools
- electrician’s tools
- and so on.
Renting Your Truck
If you live in an urban area, renting out your truck can be a very lucrative idea. Thatβs because many people living in urban areas don’t own trucks as they simply don’t need them. That is until they need to pick up a large item theyβve purchased.
Truck rentals are common in rural areas as well. Especially if your truck has the ability to tow heavy trailers and equipment.
By renting out your truck, you can easily make hundreds of dollars a month without having to leave the comfort of your own home, perfect for introverts wanting to make money from home.
However, I would recommend making sure you have the proper insurance in place.
You can also add a fee to your rental that states you have to be the one to drive the truck. This is a great way to make more money and ensure the safety of your vehicle.
Parking Spot
If you live near an urban area where parking is in high demand, then you can earn a lot of money renting out any additional parking spaces that you have.
There is the option of offering long-term rentals, perfect for anyone who lives or works in the area.
Alternatively, you can offer short-term rentals for anyone who just needs to park there for a short time.
If you’re savvy, you can even do both. Hypothetically, you could rent the spot during the week to anyone working in the area on a long-term basis, and then also offer short-term rentals on the weekend for people who are just visiting the area.
Either way, this is a great way to earn some extra money from home.
Sporting Equipment
When renting out your stuff, you should consider what sporting equipment you have. This is because of how in-demand this stuff is.
Similar to camping gear, many people donβt want to pay for all this gear that they can only use once or twice a year. So they will rent instead. And rather than going to a big rental company, they can rent your gear instead.
Some popular sporting equipment you can rent out includes:
- Golf Clubs
- Skiing Gear
- Snowboarding Gear
- Skates
- Bikes
- Hockey Gear
- Baseball Gear
This list could go on and on, but I am sure you get the idea. So take a look around and see what sporting gear you have that could be rented out.
Party & Event Items
From birthday parties to weddings, all the stuff that is needed for a party can be very costly. And now, more and more people are starting to rent everything they need for a party or wedding instead of buying it.
This can be a very lucrative business idea. Some common items for rent in this category include:
- Party Tents
- Bouncy Castles
- Tables
- Chairs
- Sound Equipment
- Plates, Cups, and Silverware
- Flowers
- And so on
Other Personal Items
In addition to all the ideas listed above, you may have other personal items that you can rent out. Each of these can be very profitable and are a good way to dip your toes into the water with running a home-based rental business. Here are our top picks:
- Clothes, Accessories, and Jewelry
- Music Instruments or Equipment
- Photography Equipment
- Videography Equipment
- Kitchen Tools
- Baby Gear
- Gardening Tools
How to Start Renting Out Your Stuff
Now that you know the different things you can rent out, let’s talk about how to get started.
Related Read: How To Make A Business Plan For Beginners With Home Businesses
Step 1: Decide What You Want To Rent
The first step is to figure out what items you would like to rent out. I would recommend doing some research on which rentable items do the best in your area before you decide what to rent. This will differ from place to place. It can even differ from season to season.
You may even decide to start with renting just one item at first to see if you like doing it. Then, you can gradually add more items over time as you feel more confident.
Step 2: Set Up A Pricing Structure
Once you know what you want to rent out, the next step is to set up a pricing structure. You will want to make sure that you are charging enough for your items so that you can cover the cost of renting them out while also leaving enough room to make a profit.
I recommend using different price tiers based on how long people will be renting the item and the type of item they are renting. It can also be helpful to look at what other rental prices are going for.
Step 3: Set Up Contracts
Once you have your pricing determined, the next step is to create contracts for renting out your items. This will ensure that both parties understand the terms of renting out the item and can help protect you in case anything goes wrong.
Furthermore, you should include an insurance policy in your contracts to cover any damages or losses that may occur during the rental.
Step 4: Advertise Your Items
The last step is to advertise your items and start renting them out! You can use rental apps such as Airbnb or Neighbour, create a website for your rentals, or market your items on social media.
No matter which advertising methods you choose, the most important thing is to make sure that your listings are clear and professional so that potential renters know exactly what they are renting.
As you can see, renting your stuff is a great option for introverts looking for a way to make money from home And it doesnβt need to be complicated either. With a little know-how and the right plan, you can easily turn your unused items into extra income!
I hope that you have found this blog post helpful and are ready to start your own rental business.
Read Next:
90+ Etsy Shop Ideas That Will Sell Like Crazy
What Can I Do To Work At Home? β 5 Steps To Convince Your Boss To Let You Work Remotely
